When managing debt, many individuals often confuse the concepts of a consolidation loan and consolidating debt through debt review. To clarify these options and help severely over-indebted South Africans make informed choices, here are some valuable insights into each approach. Consolidation Loan A consolidation loan is a credit agreement designed to settle existing unsecured debts,
What Is Lifestyle Inflation? Lifestyle inflation is spending more as income rises or upping your lifestyle without regard to your financial means. Many South Africans are guilty of lifestyle inflation. So recognising this trap and learning how to escape it is essential to improve your financial well-being. We all are guilty of this. Don’t worry
Credit cards offer convenience and financial flexibility when used responsibly. However, if mismanaged, they can lead to a never-ending cycle of debt. One particularly harmful practice is debt recycling, where individuals use one credit card to pay off another, trapping themselves in a loop of increasing debt. In this article, we explore the consequences of
Looking for ways to save on your electricity bill in South Africa? This guide offers practical tips to help households work towards a more sustainable future. You can lower your winter energy bill by understanding your energy usage and making minor changes to your daily habits. Ready to try some winter tips? Check out these
The Struggle is Real: South African Consumers’ Biggest Financial Concern Is Not Being Able to SAVE for Anything The 1400+ participants of DebtSafe’s “South African Consumers’ Financial Reality” June 2022 survey results provide various insights concerning their current financial situation. “Consumers are experiencing dire financial times, and thus, #SavingsMonth is no celebration this year. With
The concept of money is a fundamental skill that any adult, parent, guardian, family member or teacher can help teach our young ones. It does not only offer a victorious situation for the youth and their future financial decision-making, but it is also a win for South Africa’s economy and prosperity.
DebtSafe’s age-by-age guide contains practical ideas and considerations to help grown-ups with this imperative task.